All posts tagged Timber

North American timberland investor The Campbell Group has bought the rights to harvest timber plantations in South Australia from state-owned ForestrySA.

The deal worth was more than 650 million Australian dollars (US$680 million) according to a person familiar with the matter.

South Australian treasurer Jack Snelling said the The Campbell Group’s winning proposal included a “very strong price”, adding that the price tag would be revealed upon the deal’s completion later this year.

Sydney investment manager New Forests announced Tuesday the completion of its 156 million Australian dollar (US165.8 million) acquisition of the Taswood softwood plantation estate, on behalf of the Australia New Zealand Forest Fund, or ANZFF.

The 46,000 hectare estate is located in the north of Tasmania and has been acquired from a joint venture between Forestry Tasmania and a global timber investment manager. It will continue to be managed on Tasmanian Government owned land under a long-term Forestry Right, which gives New Forests the authority to establish, maintain, and harvest the timber plantations through 2069.

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